Nauticus Robotics announces term loan financing up to $20M

Nauticus Robotics has entered into a senior secured term loan agreement with existing stakeholders, Transocean, ATW Partners, Material Impact, and RCB Equities. The Term Loan Agreement provides Nauticus with up to $20 million in secured term loans, of which $11.6 million has already been funded. The Loans are convertible at $6.00 per share of common stock, subject to certain customary anti-dilution adjustments as described in the Term Loan Agreement, at the option of each Lender, until the date that the Loans are no longer outstanding. The Company is actively discussing a larger round of capital with new investors, beyond the available capacity of the Term Loan Agreement, to support its service offering expansion.